Financial Perspectives Inc Has $259,000 Stake in General Electric (NYSE:GE)

Financial Perspectives Inc grew its holdings in General Electric (NYSE:GE) by 18.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,552 shares of the conglomerate’s stock after buying an additional 241 shares during the period. Financial Perspectives Inc’s holdings in General Electric were worth $259,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its position in shares of General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after acquiring an additional 3,719,894 shares during the period. International Assets Investment Management LLC increased its stake in shares of General Electric by 21,069.8% in the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after buying an additional 3,158,153 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of General Electric by 505.8% in the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock valued at $359,882,000 after buying an additional 1,593,413 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of General Electric by 206.5% in the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after buying an additional 973,135 shares in the last quarter. Finally, State Street Corp increased its position in General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on GE. Bank of America raised their target price on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft reduced their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Citigroup upped their price objective on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. increased their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Trading Up 0.8 %

Shares of GE stock opened at $209.94 on Wednesday. The stock has a market capitalization of $225.33 billion, a PE ratio of 35.05, a P/E/G ratio of 2.59 and a beta of 1.22. General Electric has a 1-year low of $118.13 and a 1-year high of $212.19. The business has a 50-day moving average of $184.18 and a 200 day moving average of $180.02. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

General Electric (NYSE:GE) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. As a group, sell-side analysts anticipate that General Electric will post 5.39 earnings per share for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a $0.36 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.69%. General Electric’s dividend payout ratio (DPR) is 18.70%.

About General Electric

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.